Former Intel chief Andy Grove, who gambled big — and won — on billion-dollar U.S. manufacturing facilities a generation ago, worries about “a general undervaluing of manufacturing — the idea that as long as ‘knowledge work’ stays in the U.S., it doesn’t matter what happens to factory jobs,” he wrote in Bloomberg BusinessWeek.

“But what kind of a society are we going to have if it consists of highly paid people doing high value-added work — and masses of unemployed?” he asked.